Bitcoin's September stumble is right on schedule.
The crypto king kicked off the month with a 2% dip, now hovering around $58,000.
August wasn't kind either, closing 8.6% down. So much for the usual 1.75% monthly gain.
But hold on, not all hope is lost. Some analysts are eyeing the mid-$60,000 range as a short-term target. A classic case of delulu or do they have something to base this optimism on?
Meanwhile, the derivatives market is giving us the cold shoulder. Funding rates are predicted to stay "negative or low." Seems like even the risk-takers are taking a step back.
And with that in mind, we've got a whole collection of news to dig into today.
Here's your TLDR:
Bitcoin stumbles into September with a 2% drop. So more dumps incoming? What do experts think? 📉
Vitalik shifts millions in ETH. Is he selling all his ETH? 🤔
And we finally know how much revenue Telegram is generating through crypto! 💼
Coinbase CEO reveals AI crypto traders. But why do we need them? ðŸ§
Solana's meme coin morphs into a real church. Wait, what?? 🤨
Let’s dive in!
Bitcoin's September Blues
The OG crypto can’t catch a break!
It kicked off September with a stumble, dropping over 2% to $57,273.
August wasn't kind to Bitcoin either, ending down 8.6%. That's far from its usual 1.75% monthly gain.
And now we're in September, historically Bitcoin's least favorite month, with an average 4.5% loss.
The CoinGlass liquidation heatmap looks like a bearish fireworks display, with potential short liquidations stretching up to $64,000. Traders are betting on more downside, but a price jump could trigger a short squeeze.
So more dumps incoming? What do experts think? Read the full story!
Vitalik's $10M ETH Move
Vitalik Buterin just made waves with a $10 million ETH transfer to exchange-linked wallets.
Arkham Intelligence's data paints an even bigger picture: Since 2015, Buterin's address has seen 422,000 ETH ($1.04 billion) flow out. In the last two years alone, that number's jumped to 840,000 ETH.
With ETH trading 180% above its 2022 low, speculations are running wild. Is Vitalik cashing out?
Not so fast, says the man himself.
Buterin took to social media to set the record straight: He hasn't sold ETH for profit since 2018.
So what about these transfers? Where’s all this money going? Read the full story!
We Know About Telegram's Crypto Stash!
Telegram's got more than just messages in its vault.
Turns out the messaging giant was sitting at $400 million in crypto at the end of 2023.
This detail comes from Telegram's 2023 financial statement, surfacing right as CEO Pavel Durov's arrest.